Sei Investments Co. Grows Holdings in TORM plc (NASDAQ:TRMD)

Sei Investments Co. grew its holdings in shares of TORM plc (NASDAQ:TRMD) by 250.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,492 shares of the company’s stock after buying an additional 31,066 shares during the quarter. Sei Investments Co.’s holdings in TORM were worth $1,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI purchased a new position in shares of TORM during the 2nd quarter valued at approximately $26,000. Creekmur Asset Management LLC purchased a new position in shares of TORM during the 4th quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new position in shares of TORM during the 4th quarter valued at approximately $37,000. Fifth Third Bancorp purchased a new position in shares of TORM during the 2nd quarter valued at approximately $43,000. Finally, Syquant Capital Sas purchased a new position in shares of TORM during the 2nd quarter valued at approximately $46,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

TORM Stock Performance

Shares of TRMD opened at $32.92 on Friday. The business’s fifty day moving average price is $35.79 and its 200 day moving average price is $36.06. TORM plc has a 12-month low of $25.84 and a 12-month high of $40.47. The stock has a market capitalization of $2.68 billion, a PE ratio of 4.16 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The firm had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. During the same period last year, the business posted $2.14 earnings per share. Equities research analysts forecast that TORM plc will post 7.1 EPS for the current year.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a $1.80 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a yield of 21.87%. TORM’s dividend payout ratio (DPR) is currently 66.29%.

Analyst Ratings Changes

TRMD has been the topic of several research analyst reports. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th. Evercore ISI raised their price objective on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.